Chicago Bulls Won’t Match Houston Rockets’ Offer for Omer Asik

According to the Chicago Tribune, the Bulls have elected to let Omer Asik walk. The big fella will head to Houston, having agreed to a $25 million deal with the Rockets: “The Bulls on Tuesday officially will announce they have declined to match Omer Asik’s three-year, $25.1 million offer sheet from the Rockets, sources said, paving the way for multiple signings that began Monday with Kirk Hinrich. The Tribune reported on July 8 that Hinrich verbally agreed to a two-year deal, but it’s closer to $8 million in value, sources said. Hinrich, who will be reintroduced at a 2 p.m. Berto Center news conference on Tuesday, turned down slightly more money from the Bucks, sources said. ‘There were other teams in the picture, however my heart and gut told me that Chicago was the right decision for my basketball career and my family,’ Hinrich said in a text message. ‘I’m excited for the opportunity and challenge.’ [...] The Bulls will add another shooting guard as well, with the imminent signing of Marco Belinelli for the biannual exception of $1.9 million. Belinelli flew to Chicago on Monday for a physical, sources said, and La Gazzetta dello Sport reported that Belinelli’s deal will be two years for $3.8 million, with the second year a team option. Because the Bulls used a portion of the $5 million midlevel exception for Hinrich and the biannual exception to sign Belinelli, it’s impossible for the Bulls to match even Asik’s $5 million starting salary and stay below the hard cap of $74.3 million. They will pay the luxury tax for the first time in franchise history. The Bulls also will sign Kenwood Academy product Nazr Mohammed to a one-year, $1.4 million deal to replace Asik, sources said.”